MADISON — Wisconsin set a new winter home sales record with December through February sales topping 14,000 for the first time, according to an analysis of existing home sales by the Wisconsin REALTORS Association.
Although February sales were relatively flat, falling 0.9% over the past 12 months, robust sales for the previous two months averaged 13%, propelling sales for the winter season to a new record. Continued limited inventories pushed prices up more than three times the rate of inflation this winter, including the month of February during which median prices increased 8.6% to $190,000 over February 2019.
In contrast, the annual inflation rate stood at 2.3% in February according to the most recent consumer price data released by the U.S. Bureau of Labor Statistics. Nonetheless, affordability remains strong due primarily to a fall in mortgage rates.
The median price for Green County decreased by 6% to $147,000 with home sales also decreasing by 25%.
Lafayette County home sales increased by 10% with the median price also increasing by 54.1% to $152,500.